Welcome to EV's point and figures. This blog is dedicated to the use of point and figure charts in technical analysis.
Although P&F first appeared in charts in the 1930's, it is an often overlooked techique for analysing stocks and charts. A poor relation compared to line and bar charts and their range of momentum indicators. Yet few charts provide a clearer picture of the daily battle between bulls and bears for market control.
Like most methods, it should not be used in isolation. It should form part of an analysts 'tool box' and be used with other techniques to help form an overall view.
The charts that appear on this blog and any accompanying comments are purely for information purposes only - my own personal take on where the prices may be heading. They do not constitute investment advice.
Monday, October 3, 2011
Standard Chartered (STAN.L)
But once again it finds itself guilty by association, dragged down with the sector and clearly susceptible to a slow down in the Far East. Having reached a high of 1975p in late 2010, the shares have moved progressively lower and today achieved that 1225p price target from the high (a decline of 38%). The recent price action suggests the pace of decline has slowed a tad (ie falls of around 125p before the bulls come back in and reverse the column) but for now the bears have control. But that's not all............